By Emory University's Goizueta Business School
5
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The podcast currently has 30 episodes available.
From Barbie to Dove and Dasani to Sephora, brands are constantly shifting to reflect their markets and make their customers feel seen. Emory University's Goizueta Business School Professor Omar Rodríguez-Vilá joins to discuss the power of brand inclusivity, how to serve the needs of historically underrecognized communities, and what sets inclusive brands apart. We'll also talk about integrating diversity and inclusion into marketing strategies, ensuring these efforts foster long-lasting connections rather than fleeting trends.
Omar serves as a professor in the practice of marketing at Goizueta. He has 13 awards for teaching excellence, including six as Core Professor of the Year, and most recently, the Provost Excellence in Teaching Award. He has also shared his wealth of experience and expertise in leading media outlets, including the Harvard Business Review, Forbes, and Ad Age.
The Basics: What Defines an Inclusive Brand?
Omar begins by defining inclusive brands as those intentionally attuned to the needs of historically underrecognized communities. He explains how companies should first determine the role of inclusion by assessing the diversity of their customer base and identifying any whom they are not serving well.
He uses the story of Gillette vs. Bevel in the razor industry as a way to highlight how a singular focus on innovation—specifically, increasing the number of razor blades - led to suboptimal outcomes and the underserving of Gillette’s consumers with wavy hair.
He also highlights best practices in building inclusive brands, using Dove and Barbie as leading examples.
The Beauty of Inclusivity Practices
Omar encourages companies and managers to conduct an assessment to calculate their "inclusion maturity score" and discuss what changes are needed to be more inclusive in serving diverse customer segments. He discusses BRIDGE IMAX, the industry-first framework for operationalizing inclusion and driving growth. He explains how Sephora, whose score was “off the charts”, reflects their inclusive practices across stores, products, culture, and community engagement. His findings suggest that both diversity and inclusion increase engagement, with inclusion having a significantly stronger effect.
Understanding the Inclusion Opportunity
Omar focuses on the importance of understanding the size of the "inclusion market" - the opportunity to serve diverse customer segments that may be underrepresented in a company's current customer base. Datasets are a critical piece of the puzzle in order to make a stronger business case for investing in inclusive practices.
Approaching Inclusion Effectively
The framework for success in inclusivity is seen through understanding the market. Omar suggests understanding the composition of your customer base and identifying underserved groups. This will allow the brand to serve the market by creating innovative products and services to meet these needs. Lastly, Omar encourages listeners to show up authentically in the market.
Transformational Potential
While embracing diversity and inclusion requires effort, the potential benefits are vast and impactful. Omar encourages brands to explore how these principles can reshape their market approach, potentially redefining their competitive position in the market.
Omar emphasizes that embedding diversity and inclusion into your market strategy isn't just a trend—it's a transformative effort akin to adopting new technologies. Companies that integrate these principles effectively are poised to gain a competitive edge by better resonating with and serving diverse markets.
Diversity and inclusion are not just moral imperatives but also clear business advantages. Customers view diversity as fundamental, influencing brand loyalty and differentiation in profound ways.
For those inspired to learn more, visit Goizueta’s Business & Society Institute for additional resources and information on the intersection of business with inclusive economies, racial justice and climate.
For more insights to equip you with the tools and perspectives to excel in your career, subscribe to the Goizueta Effect podcast.
You can also read more about Omar Rodríguez-Vilá’s work at
In this episode, we are joined by Steven Culler to dive into the intricate landscape of healthcare in the United States where business, policy, and patient outcomes intersect. Join us as we demystify healthcare financing models and uncover the hidden fallacies within U.S. healthcare.
Understanding US Healthcare and Common Misconceptions
Unlike Canada and European countries, the United States has a unique multi-payer system where coverage varies based on factors such as age and employment status. Steven Culler shares personal anecdotes, illustrating the challenges of navigating network care, and the significant financial implications of medical emergencies. The conversation explores the misconceptions people have about their insurance coverage, especially the belief that employer-provided insurance is always reliable.
Navigating Healthcare Using Data to Make Informed Decisions
Monique and Steven discuss the critical role of measuring healthcare outcomes to enhance patient care. Steven highlights disparities in healthcare quality across hospitals and stresses the need for patients to access accurate information when making healthcare decisions.
The conversation advises listeners to educate themselves on their health insurance policies before needing them. Steven introduces resources like hospital comparison tools to help patients make informed choices about where to seek care, emphasizing the importance of understanding potential financial risks. He also shares strategies for preparing for healthcare emergencies, including knowing family health history and local hospital ratings.
Looking Ahead
Steven envisions a future where better data collection and transparency in healthcare outcomes can lead to more informed decisions by patients and improvements in overall healthcare quality. He discusses potential policy changes and the role of third-party payers in guiding patients to better care.
Join us for an insightful conversation that unravels the complexities of the U.S. healthcare system, offering valuable advice for navigating your health insurance and making informed healthcare choices.
Climate change is real and it’s worsening. Goizueta Business School’s Wes Longhofer and Cameron Bard join to discuss the business imperative for carbon neutrality – and how human creativity, technological progress, and a strong commitment to a sustainable future can drive us toward net zero.
There’s no escaping it – climate change is real and it’s worsening. 2023 was by far the warmest year on record, and 2024 is predicted to be even hotter, marking 10 years of consecutive increases. Last year, ocean warming broke records, Arctic sea ice dropped to a record low, and climate-related disasters caused damages exceeding $92 billion dollars.
Wes Longhofer and Cameron Bard of Emory University’s Goizueta Business School join to discuss the role that business can and should play in helping our society transition to carbon-free sources of energy. We unpack the need for truly innovative large-scale ideas and investments, opportunities within developed and developing countries, global threats, and the challenge of pursuing clean energy initiatives while also respecting other environmental and social justice concerns.
Wes Longhofer is an associate professor of organization and management and the executive academic director of the Business & Society Institute at Goizueta. His research on climate change and energy systems has been featured in the Washington Post and Nature. He also serves on Emory's Climate Research Initiative Task Force, as well as Emory's Sustainability Visioning Committee.
Cameron Bard is a student in Goizueta’s Full-time MBA program. He serves as the President of the Goizueta Energy and CleanTech Association and is a Social Enterprise Fellow focusing on climate and sustainability. Post-graduation, he will work for Boston Consulting Group. Outside of class, he volunteers for the Georgia CleanTech Innovation Hub.
Understanding Climate Change
Climate change is defined as the long-term alteration of temperature and weather patterns on Earth. Highlighting the pivotal role of human activities, such as the burning of fossil fuels, in these environmental shifts, the conversation points to the direct consequences we're facing: increasingly frequent and severe climate shocks that disrupt the natural balance of our planet.
The Energy Trilemma
This trilemma refers to the complex challenge of balancing three critical aspects of energy policy: environmental sustainability, energy equity (affordability), and energy security. It underscores the difficulty of ensuring that future energy sources are not only carbon-free and sustainable to combat climate change but also affordable for communities worldwide and secure from the threats posed by geopolitical tensions and bad actors. In addition, it highlights the interplay between these dimensions in transitioning to a sustainable energy future, emphasizing the need for innovative solutions that address all three aspects simultaneously.
Historical Context and Infrastructure
Let’s look back at monumental projects like the massive hydroelectric dams constructed during the New Deal era, the creation of the interstate highway system in the 1950s, and the achievement of putting a man on the moon. These examples serve to illustrate the ambition and scale of past infrastructural endeavors, providing a benchmark for current efforts to transition to clean energy. However, there were several challenges these projects faced, such as the protests against the interstate highway system due to its impact on neighborhoods and local ecosystems, and the failure of certain dams and nuclear plants because of resistance from affected communities. The discussion suggests a path forward that respects local interests, protects the environment, and shares benefits equitably, aiming for a more thoughtful and comprehensive approach to developing modern sustainable infrastructure.
Innovation and FOAK Projects
The focus shifts to the importance of innovative ideas and first-of-a-kind (FOAK) projects in spearheading the energy transition. The deployment of advanced nuclear reactors and large-scale battery storage systems showcase how these FOAK projects are pivotal in overcoming the inherent challenges of reliability and storage faced by renewable energy sources, thereby accelerating the path towards a sustainable energy landscape.
The Pursuit of Clean Energy, While Respecting Other Environmental and Social Justice Concerns
Specific instances, such as the opposition to the Lithium Americas mine at Thacker Pass in Nevada, illustrate how NIMBYism ("Not In My Backyard") and BANANA ("Build Absolutely Nothing Anywhere Near Anything") mentalities create significant roadblocks to essential renewable energy projects. Additional protests against the construction of wind farms and solar panels are discussed, where local communities' concerns over environmental and aesthetic impacts lead to delays or cancellations. These examples underscore the complex task of balancing the need for clean energy development with respecting local community values and environmental conservation. The conversation highlights the importance of engaging stakeholders early with transparent, inclusive decision-making processes to ensure energy equity and foster broader acceptance of renewable energy initiatives.
Role of Businesses Towards Net Zero by 2050
The role of businesses in reaching net zero emissions by 2050 is crucial. By embracing sustainable practices, innovative finance, and investments in clean energy, companies contribute significantly to climate change mitigation and set standards for ethical business conduct. Despite the challenges lying ahead on the path to net zero, a quiet optimism persists, supported by our belief in human creativity, technological progress, and a strong commitment to a sustainable future. It’s a significant challenge, yet achievable with the business sector leading the way towards the goal of a net-zero world by 2050, demonstrating the essential balance between economic development and environmental care.
For those inspired to learn more, visit Goizueta’s Business & Society Institute for additional resources and information on the intersection of business with climate change, racial justice and inclusive economies.
For more insights to equip you with the tools and perspectives to excel in your career, subscribe to the Goizueta Effect podcast.
This episode of the Goizueta Effect was co-created in partnership with MBA students and ClimateCAP delegates Sam Haber, Marco Zgliczynski, and Shweta Agrawal.
As we enter an emotionally charged election filled with uncertainty, Emory University's Goizueta Business School professor Suhas Sridharan joins to discuss corporate political strategy. Learn from the transformative and tumultuous journeys of global giants like Uber and Facebook – and find out how navigating policy making and the regulatory landscape just may make or break your business.
Business and politics. Two huge institutions that are inseparably intertwined. As we enter an emotionally charged election year, businesses and individuals are speculating how political outcomes will impact their lives and the success of their organizations.
Suhas Sridharan joins to discuss how you can navigate political systems to achieve the mission of your organization, actions you can take to influence policy making and political outcomes, and how the regulatory landscape can make or break your business. We’ll also delve into the role that activists, interest groups and corporate social responsibility play in shaping your success.
Suhas is an associate professor in Accounting at Emory University’s Goizueta Business School. Prior to this, she earned her PhD in business administration from Stanford University's Graduate School of Business. Her expertise has been featured in leading publications including the Wall Street Journal, Bloomberg, and Financial Times.
Identifying Pivotal Politicians
Suhas discusses strategies for identifying politicians pivotal to a company's mission, highlighting the use of data-driven tools to measure political ideologies. She offers the resource voteview.com as a starting point for exploration. When it comes to influencing these politicians, she discusses the merits of differing strategies, including reaching out to politicians that run counter to your strategies and convincing them to become allies versus connecting with politicians already aligned with your cause and encouraging them to use their networks and influence to support your objectives, the latter of which is known as sequential lobbying. Melanie and Suhas also delve into additional actions businesses can take to influence politicians and political outcomes. They discuss campaign finance, the role of PACs, and the misconception surrounding corporate contributions to political campaigns, where owners, employees, and families may contribute to these funds, but not corporations themselves.
The Revolving Door Strategy
As Suhas elaborates on the value of board appointments, she emphasizes the benefits to corporations of hiring individuals with political experience to navigate regulatory environments, also known as the revolving door strategy. She touches on the power of industry-level cooperation and coalitions, such as trade associations, in influencing policy.
Expansion and Challenges of Uber
Melanie and Suhas reflect on Uber's approach to navigating regulatory challenges and the timing of business actions in relation to political landscapes. Suhas begins by examining Uber's journey from a luxury black car service to the more ubiquitous UberX. She highlights the challenges Uber faced, particularly from entrenched taxi industries, and the importance of navigating regulatory landscapes in different markets.
Corporate Political Strategy
The conversation shifts towards corporate political strategy, emphasizing the need for businesses to assess issues comprehensively, identify pivotal policymakers, and build coalitions effectively. Suhas stresses the adaptability of such strategies across local and global markets, underscoring the significance of understanding local cultures and contexts.
Facebook's Experience in India
Using Facebook's experience in India as a case study, Suhas explores the complexities of expanding into emerging markets. She discusses Facebook's initiative, internet.org, aimed at providing internet access to one of the world’s largest markets, but facing backlash due to concerns over net neutrality and a lack of cultural awareness and understanding.
Activists and Interest Groups
Suhas underscores the pivotal role of activists and interest groups in shaping policy agendas and influencing corporate decisions. She illustrates this with historical examples, such as Ralph Nader's impact on automobile safety regulations, and contemporary instances, such as boycotts affecting companies like Kyte Baby.
Corporate Social Responsibility (CSR)
The conversation extends to CSR as a strategic imperative for businesses. Suhas explains how CSR initiatives, often driven by market demands, serve as a form of self-regulation, enabling companies to mitigate regulatory risks and enhance reputation. Suhas provides actionable insights for business leaders seeking to develop effective political strategies. She emphasizes the importance of issue identification, leveraging resources like media, lobbyists, and trade associations, and actively engaging with stakeholders to navigate complex political landscapes.
For more insights and success stories that equip you with the tools and perspectives to excel in your career, subscribe to the Goizueta Effect podcast.
Join us as we explore the battle against busyness and ways to bring balance back to our lives. Emory University's Goizueta Business School’s Marina Cooley discusses the history of work/life balance, factors that have pushed us into overdrive, and steps that individuals and institutions can take to even the scale.
Marina Cooley is an assistant professor in the practice of Marketing at Goizueta Business School. Prior to joining Goizueta, Marina spent more than 15 years in strategic marketing roles at Coca-Cola and Lavva, and served as a management consult at IBM. A storyteller at heart, she has been featured in the New York Times and Yahoo Finance - and honored as one of Poets & Quants 40-under-40 Best MBA professors. Currently, she teaches a class on personal development to more than 800 undergraduate students each year, as well as a seminar on Life Design to MBA students.
The Overwhelming Nature of Busyness
In researching busyness, Marina Cooley has found data showing an increase in leisure time in America. However, this data can be misleading and is only accurate when you look at data collectively. There is a large class of underemployed individuals who have lots of “leisure time” but may spend much of this time worrying about basic needs. Most highly educated individuals with well-paying jobs have little leisure time due to overcommitment. Marina shares that the discussion today will mostly focus on this "Harried Leisure Class” which is privileged but faces struggles with time management.
Factors Contributing to Busyness
Marina identifies five key explanations for busyness: workism, parenting as a verb, the cult of self-improvement, the trend of side hustles, and the impact of social media. Acknowledging the societal privilege to address the issue of busyness, Marina discusses historical events that shaped the modern work landscape, such as the introduction of factory work hours, the eight-hour workday, the postwar era's focus on hobbies, and the introduction of massive corporate downsizing. She highlights the pivotal moment in the 1970s when a proposed bill for subsidized child care faced opposition, shaping the current struggle of parents to balance work and family responsibilities.
Marina's Personal Battle Against Busyness
Marina shares personal experiences, illustrating the catch-22 of disposable income, where the pursuit of “more” leads to overcommitment and self-induced stress. Reflecting on her own journey, she emphasizes the need to align time spent with personal values, recognizing the negative impact of overcommitment on parenting and overall well-being.
The Importance of Balance and Leisure
As a way to address systemic changes to support work-life balance, Marina advocates for subsidized child care, experimenting with shorter workweeks, creating mandatory periods of corporate email shutoff, and exploring workplace sabbaticals. She recognizes the evolving nature of work arrangements, citing the acceptance of hybrid work as a positive shift.
Teaching A Balanced Life
Marina's class at Goizueta Business School teaches personal development as the key focus. The innovative zero-lecture strategy and practical exercises equip students with tools to understand and enhance their time management skills, encouraging a mindset shift towards valuing leisure for its intrinsic worth. Marina encourages the cultivation of joy through deliberate planning, challenging the cultural tendency to view leisure as something to be earned.
Personal Strategies for Finding Joy
As she reflects on the pursuit of joy, Marina highlights the role of planning in creating uninterrupted leisure time. She encourages listeners to be mindful of their time choices, emphasizing the privilege of deciding how time is spent. Marina reflects on the power of saying no and gives a toast to a less harried and more balanced new year.
For more insights and success stories that equip you with the tools and perspectives to excel in your career, subscribe to the Goizueta Effect podcast.
Dive into the fascinating world of micro-businesses and explore their remarkable impact on local economies and communities. Discover how these micro-businesses drive innovation, create employment opportunities, racial equity, and contribute to the overall economic landscape. Our guests Brian Goebel, Managing Director of The Business & Society Institute at Emory University’s Goizueta Business School and Mercedes Uzuegbunam, Heart Mercedes Founder share their insights into the stories and strategies behind microbusiness. Join us as we discuss the impact of these small but mighty enterprises, rethink intentionality in our shopping behaviors, and gain a deeper understanding of why small business is truly big.
The Importance of Microbusinesses
Brian Goebel discusses how microbusinesses go beyond economic contributions to influence communities. They tailor products and services to the specific needs of their communities, creating a unique and personalized experience. They add cultural richness to communities. Despite their small size individually, their collective impact is significant. They play a crucial role in creating jobs, both directly and indirectly, and contribute to building wealth within communities. Professor Peter Roberts has additional research on microbusiness impact. Additionally, the Association for Enterprise Opportunity (AEO) Bigger Than You Think Report provides helpful insights.
Start:ME: Supporting Microbusinesses
Brian discusses Start:ME, a micro-business accelerator program, operating in underserved communities across metro Atlanta that has served nearly 400 micro-businesses over the last 10 years. The program focuses on supporting businesses to start, grow, and thrive. Follow @StartMeATL on Instagram. Brian and Mercedes also share more about the work of other entrepreneur support organizations in Atlanta including Goodie Nation, Village Micro Fund, The Village Market, Russell Innovation Center for Entrepreneurs, and Women’s Entrepreneurship Initiative (WEI).
Journey to Heart Mercedes
Mercedes Uzuegbunam, Start:ME alum and coordinator discusses her journey to launch Heart Mercedes, a statement jewelry line for the whole family. She discusses how it evolved organically, driven by her passion for art and a desire to give back to the community. She shares how Start:ME played a crucial role in her transition from artist to a business owner and her decision to support other entrepreneurs.
Mercedes emphasizes the importance of authenticity in her brand and how her values show up in her business. She engages the community in “random acts of kindness” such as organizing pop-up art classes in schools, contributing to creative expression in children and enhancing community well-being. Follow @HeartMercedes on Instagram.
Addressing Poverty and Racial Equity
Brian sheds light on how micro-businesses play a role in providing pathways for families to exit poverty, however he cautions that poverty is a systemic issue that entrepreneurship alone cannot solve. Micro-businesses contribute significantly to household income and offer flexibility to entrepreneurs, enabling them to leverage their passions and skills. In reference to economic equity, Brian highlights the racial wealth gap and emphasizes the need for intentional support, ensuring entrepreneurs from underserved communities have access to knowledge, networks, and capital. He also advocates for policy considerations as crucial aspects in creating an equitable environment. Brian highlights several thought leaders and organizations doing great work in the Atlanta area on this topic and references the Atlanta Wealth Building Initiative (AWBI) along with the Partnership for Southern Equity (PSE) as a great starting point to understand the dynamics of Atlanta.
Reference: The Atlanta Wealth Building Initiative (AWBI) Building a Beloved Economy
Spending with Intention
Mercedes and Brian highlight the significance of researching where to spend your money, aligning your choices with personal values, and the impact that can create. The idea of "Shop Small, Shop Local" is more than a slogan; it's about investing in the community, creating personal connections, and leaving a positive impact. Mercedes emphasizes the value of leaving a positive legacy through intentional and supportive actions. Brian also underlines the role that companies can play in driving impact through intentional procurement initiatives.
Taking Action
Brian concludes by inviting listeners to get involved by making mindful choices regarding where they shop and how they invest their time. He invites listeners to support micro-businesses through purchases from the Start:ME shopping guide and volunteering as a Start:ME business mentor. He highlights several organizations working towards economic equity and encourages individuals to get informed about challenges and take collective action for a better, more prosperous community.
Thank you to our guests, Brian Goebel and Mercedes Uzuegbunam, for sharing their insights and experiences. Join us in supporting micro-businesses and making intentional choices that positively impact our communities.
Do you have a secret desire to venture into entrepreneurship? In this episode, we unveil stories and strategies on making the jump into entrepreneurship. Our guests Brian Cayce, Managing Director of The Roberto C. Goizueta Center for Entrepreneurship & Innovation and Andrew Rodbell, co-founder of Post Meridiem, the first line of cocktails disrupting the alcoholic ready-to-drink market in the US, share their personal insights on the process. We explore the mindset shifts required to transition from the corporate environment to the unpredictable world of startups. Get ready to uncover techniques for identifying business opportunities, building your network, and acquiring the essential skills needed to succeed as an entrepreneur.
Transitioning from Corporate to Entrepreneurship
Andrew Rodbell's journey from corporate America to entrepreneurship unfolds in this podcast episode. His post-MBA career in brand management at Coca-Cola equipped him with valuable skills, setting the stage for his entrepreneurial venture. In 2017, driven by growth potential, Andrew and a friend disrupted the ready-to-drink alcoholic category.
Mindset Shifts in Entrepreneurship
Exploring the shift in mindset when moving from corporate to entrepreneurship, Andrew emphasizes newfound autonomy. He navigated decision-making independently, embraced hands-on learning, and acknowledged the emotional rollercoaster that entrepreneurship entails.
Challenges in Entrepreneurship
Brian Cayce, Director of the Center for Entrepreneurship and Innovation, discusses common challenges aspiring entrepreneurs face. Financial hurdles, including debt and the salary vs. startup income trade-off, are primary concerns. Brian recommends budgeting for a trial period and factoring in externalities like mental health and personal well-being. Brian and Andrew then go on to differentiate between high-growth and lifestyle businesses.
Key Skills for Entrepreneurial Success
Brian elaborates on essential skills for prospective entrepreneurs. A willingness to adapt, embrace diverse tasks, and maintain a growth mindset are crucial attributes. He stresses the importance of a strong work ethic, open-mindedness, and adaptability.
Explore Funding Strategies
Andrew and Brian stress the significance of exploring diverse funding avenues for startups. Brian draws from his venture capitalist background to outline the downsides of traditional venture capital, characterized by high expectations and pressures. They advocate for various capital sources with different return profiles that align with the business vision. Andrew recounts his experience of self-funding, emphasizing the importance of de-risking investments through successful pilot phases.
Evaluating Opportunities
Andrew and Brian underscore the importance of differentiation when evaluating business opportunities. A unique product or service can be a competitive advantage. They discuss the value of prototyping and gathering feedback from distributors, retailers, and consumers. Brian emphasizes identifying the right wave of opportunity and learning from others, even from younger generations.
Embracing Failure
The conversation shifts to the topic of failure in entrepreneurship. Brian reflects on his venture capital experience, acknowledging that most startups do fail. However, he highlights the importance of learning from these failures and establishing feedback mechanisms for continuous improvement.
Building a Network of Support and Resources
Both Andrew and Brian emphasize the value of networking within the startup ecosystem. Mentors, advisors, and peers can provide essential guidance and support. They encourage proactive networking and mentorship-seeking. Brian discusses the role of the Center for Entrepreneurship at Goizueta Business School in supporting students and alumni interested in entrepreneurship.
Handling Risk Aversion from Loved Ones & Naysayers
Andrew addresses concerns from friends and family regarding entrepreneurship's risks. He advises confidence in one's ideas, data-driven proof of concepts, and developing resilience to skepticism. Brian adds that challenges and questions can lead to refining ideas and making informed decisions. Andrew encourages those with a desire for entrepreneurship to take the leap, provided they align their circumstances to support it.
In this episode, listeners gain valuable insights into entrepreneurship, funding strategies, risk management, and the importance of networking and mentorship. Andrew and Brian's experiences serve as valuable lessons for anyone looking to embark on their entrepreneurial journey.
Switching careers is a pivotal journey that many professionals undertake. It's more intricate than simply landing a new job—it's a transformative process that demands strategic navigation. In this episode we uncover the secrets to career switching success with our guests, Danielle Rubenstein and Chantal McMahon. They shed light on this transformative process from different perspectives. Danielle, a senior director of career management, brings her expertise, while Chantal, a finance leader at Intuitive Surgical, shares her firsthand experiences of navigating career transitions. Together, we unveil the challenges, strategies, and invaluable insights that empower listeners to forge new career paths.
Challenges of Career Switching & The Intentional Pivot
The journey of career switching is multifaceted, requiring understanding of aspirations and experience building in new domains. Self-awareness, adaptability, and deliberate intentionality are paramount. The focus lies on intentional pivots, grounded in self-assessment rather than idealized notions, fostering success.
Success Story: Chantal's Career Switching Journey
Chantal's inspirational journey spans R&D and medical technologies to finance leadership. Networking, mentorship, and active exploration play pivotal roles. Embracing uncertainty, strength assessment, and continuous exploration form the bedrock of her advice.
The Power of Redefined “Networking”
The mystique of networking is unveiled, redefined as relationship-building and knowledge-sharing. Overcoming being perceived as disingenuousness and fears of approaching strangers is addressed. Beyond immediate job gains, networking offers profound benefits. Practical tips and resources for enhancing networking skills are provided.
Building Resilience - Reframing Rejection and Setbacks
The emotional toll of rejection and setbacks is acknowledged yet reframed. Danielle emphasizes that rejection doesn't define an individual's worth. Chantal's journey underscores the importance of persistence and learning from rejections. The emphasis is on focusing on one's true strengths and value, while maintaining objectivity.
Leveraging Self-Reflection and Skill Evaluation
Chantal encourages listeners to assess their past experiences. Understanding what energizes and drains them facilitates informed career decisions. The value of deliberate self-reflection is highlighted.
Personal Branding's Complex Dynamics
Personal branding's dual nature is discussed while emphasizing the importance of conveying value and skills that align with the target role. Both guests emphasize refining one's narrative through practice and adapting the "talk track" based on feedback.
Thank you for joining us in this enlightening episode. As you navigate the intricate path of career switching, remember that each challenge is a stepping stone to growth and learning. For more insights and success stories that equip you with the tools and perspectives to flourish in your career journey, subscribe to our podcast.
Last year alone, 10 climate-related disasters displaced millions of people with damages exceeding $3B. The time to act is now. Goizueta’s Wes Longhofer and Danni Dong join to discuss the role of business and innovation in a climate-smart world.
The past eight years have been the warmest on record, with sea levels are rising twice as fast as they were three decades ago. Often, when we think of innovation we think too narrowly - new technologies, products, or services. However, in tackling a problem as pervasive and complex as climate change, our approach in the business world needs to be broader, more holistic. We’ll talk today about the three pillars of business innovation in a climate-smart world:
Wesley Longhofer is an associate professor of organization and management and the Executive Academic Director of Goizueta’s Business & Society Institute. His work on climate change has been funded by the National Science Foundation and featured in the Washington Post and Nature. His most recent co-authored book, Super Polluters: Targeting the World’s Largest Sites of Climate Disrupting Emissions, was published by Columbia University Press in 2020. Wes is also a member of the recently launched Emory Climate Research Initiative.
Danni Dong is a dual degree graduate student at Emory pursuing her MBA and MSPH at Goizueta Business School and Rollins School of Public Health. Danni is a passionate activist working to tackle climate challenge through public private partnerships. She has worked with several governmental agencies including the Atlanta Housing Authority, Environmental Protection Agency, and Centers for Disease Control and Prevention. Danni recently attended the United Nations Climate Conference in Egypt as a student ambassador with Emory Climate Talks.
This episode of the Goizueta Effect podcast was co-created in partnership with Goizueta MBA students and ClimateCAP delegates including Danni Dong, Nikhil Mathur, Jimmy John, and Peter Danis. A delegation of 11 MBA students from Goizueta Business School recently attended the ClimateCAP Global Summit. Along with hundreds of leading students and professionals from across the nation, they explored the enormous influence and responsibility business leaders hold in driving toward a climate-smart world. Want more insights? Check out #GoizuetaClimateSmart.
What is the Circular Economy?
The concept of a circular economy came about as an alternative to the traditional “take-make-waste” model. The circular economy involves designing products and systems that are efficient, durable, and easy to repair, refurbish, or recycle.
Companies like Patagonia and FairPhone have successfully implemented circular strategies, incorporating buyback programs, refurbished goods, and modular products that can be partially upgraded to lengthen their useful life. These strategies not only benefit the planet, but also create customer loyalty and competitive advantage.
First It Was Shareholder vs. Stakeholder Capitalism. Now There Are “Multi-Stakeholders”?
A newer way of thinking has come about recently, focusing on the importance of the multi-stakeholder approach in business. Central to this concept is considering the interests of all parties affected by a company's actions, including employees, customers, suppliers, communities, and the environment. Communities are demanding that companies create more value for society than they extract, and the environment is also considered a stakeholder due to the impact of climate change on businesses.
By considering multi-stakeholders, the true cost of climate change is clearer. From recent flooding in Pakistan to the longest recorded drought in Eastern Africa, it is apparent that the environment is a key stakeholder that needs to be considered. Natural disasters triggered by climate change have resulted in $3 trillion worth of economic losses between 2010 and 2020. Companies must take a multi-stakeholder approach to mitigate these risks and account for the impact of their operations.
How Can Innovation Combat Climate Change?
Green hydrogen is a promising alternative fuel option for companies looking to reduce their carbon footprint. Companies like Siemens Energy and NextEra Energy are investing heavily in green hydrogen technologies to reach zero emissions without offsets. Widespread adoption of green hydrogen is seen as necessary to compete with natural gas.
Likewise, how we move goods around the planet is an area that can be reconsidered to benefit the planet. Following the pandemic and the realization of fragile supply chains, there is now a shift in the US to reign in supply chains and bring them nearshore or even back onshore. This prompted the passage of the CHIPS Act which focuses on semiconductor manufacturing, but also spurred other industries to consider bringing operations closer to home. Such a shift from offshoring to onshoring could significantly decrease emissions from maritime and aviation shipping, which together currently accounts for more than 20% of global emissions.
What Role Does the Government Play?
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In 2021, initial public offerings (or IPOs) hit an all-time record with 1,000 companies entering the scene, more the doubling the previous year. From investors to managers to board members, business leaders need to understand the true value of companies, but many of the traditional valuation methods are outdated and incomplete. With increasing access to new data, astute forecasters are deploying new methodologies. Among these is customer-based corporate valuation, a field “equal parts marketing and Wall Street” with a central focus on how customer behavior drives success.
Dan McCarthy joins to discuss customer-based corporate valuation, including which customer data points are most important to monitor and how investors and managers stand to benefit from this approach.
Dan is an Assistant Professor of Marketing at Goizueta Business School. His research centers on customer lifetime value, limited data problems, data privacy, and the marketing-finance interface. He is regularly featured as a key expert, with recent coverage in the Harvard Business Review, Wall Street Journal, Fortune, the Economist, and CNBC.
Corporate Valuation as a New Approach to Forecasting
Until now, evaluating firms has been a question of forecasting future revenues off of past revenues. Customer-based corporate valuation (CBCV) entails looking at data regarding the flow of customer acquisitions over time.
The model consists of four interlocking submodels governing how each customer of a firm will behave. They are:
Using this data, predictive models for customer behavior produce forecasts – of revenues, as well as marketing expenses and ultimately cash flows. It’s Wall Street meets marketing.
A Perfect Mix of Finance, Statistics, and Marketing
McCarthy is the founder of two predictive customer analytics companies, one of which was acquired by Nike in 2018. Along with Peter Fader at Wharton, he has spent countless hours studying and working to refine CBCV over the last several years. His journey into this method combines many of his passions, including finance, statistics, and marketing.
He shares that predictive and analytical tools, such as his CBCV, can be adapted for a multitude of uses for a variety of audiences, including investors, managers, CEOs, and marketing departments. Those business leaders with access to heavy data can receive detailed predictive information that can be leveraged for future decision making. It isn’t as simple as, “this is how we will perform”, but rather, McCarthy’s tool allows companies to understand the pieces that make them thrive. They can then use this information, such as which customers are more valuable or which marketing tactic is working best, to progress the company and drive growth. This approach, he says, is more of a value management task rather than a value measurement task.
Even amateur investors with statistical aptitude can apply this approach. McCarthy shares the following Excel spreadsheet to make predictions for subscription-based firms.
Corporate Valuation with Movie Pass and Wayfair
McCarthy applies the CBCV methodology across industries. He recently evaluated the new three-tier system that Movie Pass implemented earlier this year. MoviePass skyrocketed in popularity in 2018 after it lowered its monthly subscription to $10, garnering 3 million subscribers. But it wasn't sustainable. After burning through hundreds of millions of dollars, MoviePass shut down in 2019 and its parent companies filed for bankruptcy in 2020. Now, Movie Pass just re-launched on Labor Day with a three-tiered payment system. So, what does McCarthy predict? In short, he shares, they likely won’t “lose money as quickly”. He predicts that most customers will head for the cheapest option available as they have already experienced this company’s market adoption. It's the proverbial free lunch. The national average price of movie tickets is approximately $10. So if the cost of the subscription is $10, then as long as someone buys one movie, the company's going to lose money.
McCarthy’s work with ecommerce furniture site Wayfair also underscores the importance of understanding consumer behaviors to accurately interpret company financials. Though its revenue has grown very quickly, he says, there remains a very low margin for profit. A deeper look into consumer behaviors shows that Wayfair has high customer acquisition costs, yet these customers are rarely repeat purchasers. Though the company had been struggling, the COVID-19 pandemic forced buyers into their homes exclusively, and heads turned to ecommerce platforms such as Wayfair. This change helped the company sustain itself for a short period, but it is now realizing the harsh reality of its flawed marketing tactics once again.
Standardization of Data and Definitions
One of the biggest challenges that CBCV faces is the disclosure of fully accurate and thorough data, or rather, the lack thereof. Companies are often reluctant to disclose data that may make them look bad, limiting the data sets predictive models can work with. Standardization of industry terminology is also a challenge, because different firms utilize different definitions, and this can lead to the misinterpretation of data. As investors apply pressure, standards are slowly forming. While he recognizes the challenges, McCarthy is hopeful we can converge on “industry specific, informal standards”.
Up Next for Dan McCarthy
McCarthy is enthusiastic about what’s in store as he continues to refine predictive data models. He looks forward to applying artificial intelligence and other deep learning models to this work. He is grateful to Kyeongbin Kim, PhD candidate in marketing at Goizueta, for her transformational research in this space.
To learn more about Goizueta Business School and how principled leaders are positively influencing business and society, visit www.goizueta.emory.edu.
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